Paraguayans elected a tobacco magnate as their new leader Sunday, returning the conservative Colorado Party to the presidency that it held for 61 years before former Roman Catholic bishop Fernando Lugo won the office in 2008.

Horacio Cartes won a five-year term with 46 percent of the vote over 37 percent for Efrain Alegre of the Radical Liberal party, the Electoral Court announced after most votes were counted. Five other candidates trailed far behind.

"I'll need help from all the Paraguayans to govern in the next five years. Poverty, the lack of jobs for young people and international issues await us," Cartes said Sunday night.

Many Paraguayans hope this election will encourage other countries to restore full relations that were suspended after last year's impeachment of Lugo, which neighboring nations saw as a threat to democracy in the region.

The Colorados held the presidency during and after Alfredo Stroessner's 35-year-dictatorship, until Lugo, a leftist former bishop, was swept into office on promises of land reform. But he lacked even a handful of supporters in the congress, made political missteps and was stymied at every turn. He was turned out of office for "poor performance" last year. Lugo's vice president, Federico Franco, took over as caretaker president.